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Much-needed help to lift global economic activity provided



Economic growth in the Eurozone is still struggling to gain a footing, as inflation remains dangerously low. The European Central Bank (ECB) aims at keeping the inflation rate just below 2%. However, in October 2014, it was just 0.4%.








Activity in the SnP market slowed down a bit last week, although dry bulker and tanker deals still reveal healthy signs of buying appetite, while the revival of the product sector is still evident in the number of MR deals being reported, Intermodal says in its weekly report. Activity in the newbuilding market remains slow, while as far as prices are concerned we don’t expect to witness any significant declines before the end of the year and while the freight rate market for both tankers and bulkers is faring around current levels.


Top Stories

Global bunker supplier Aegean Marine will take advantage of the recent collapse of competitor OW Bunker by entering two new markets in the next several months, the company’s president said.
Golden Ocean Group Ltd (GOGL.OL) says Geveran Trading, a company indirectly controlled John Fredriksen and his family, has acquired $25 million of Golden Ocean 3,07 pct 2019 covertible bond (GOGLl02) at a price of 85.28.
The third quarter of 2014 was disappointing for Copenhagen-listed shipowner Nordic Shipholding that posted a loss before tax of USD 4.6 million compared to a larger loss of USD 6.3 million in the same period last year.
On Monday, 24 November, in a setting entrenched in rich history, indeed in what is a symbol of the evolution of Greek shipping, aboard the SS HELLAS Liberty, and more specifically, in the “Captain Vassilis Constantakopoulos Hall”, HELMEPA presented its contemporary training initiatives to the broader shipping community.
Matson Navigation announced that it will raise its rates for its Hawaii service by $225 per westbound container and $110 per eastbound container, effective January 4, 2015.
Höegh LNG Partners LP reported its financial results for the period ended September 30, 2014. Mr. Richard Tyrrell, CEO & CFO, stated: "The IPO of HMLP was well received and I am pleased to see such quality investors in the unitholder base..."
The tanker market has been enjoying some good returns lately. Ok, that may be a big understatement, but with all the ups and downs of the past years we have been trained to curb our enthusiasm amidst positive news...
The M/V "MANSOUR M" has been banned for the 3rd time after subsequent detentions after the second refusal of access order in the Paris MoU region.
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